Emirates to slow delivery of new aircraft in 2010

Emirates Airlines is slowing its delivery of new Boeing 777 aircraft after April 2010 in response to the global crisis, according to a manager involved in aircraft acquisition.

Speaking a day before the delivery of the airline's 75th Boeing 777 at the Everet factory in Seattle, Abdullah Al Shams revealed that deliveries in 2010 would be delayed for a few months, although this year's deliveries would remain on schedule.

Each plane had to be paid for in full on receipt, he added in an interview with UAE daily Gulf News.

"We do have deliveries until April 2010 and then we have a slowdown on the deliveries for the following year," Al Shams said.

"The slowdown in deliveries is related to the credit crunch and with the airline business today we do have a little bit of a slowdown on the different aspects of the business.”

"This plane is going to be delivered tomorrow morning. We're going to take off within four hours of the payoff," he added.

Al Shams stressed Emirates had not cancelled any orders with Boeing and still had plans for a full fleet of between 106 to 108 despite the delays.

"At this moment our figures and our delivery are still there, nothing has been cancelled. All the airlines in general have deferred their delivery timetables," he said.

However, Boeing is facing increasing cancellations of orders for new aircraft from other airlines, due to the financial crisis.  

The company’s Q1 2009 saw a 50 percent decline in profit, as a direct result of the slowdown in new orders, and it is in talks with customers over revising payment plans to maintain sales, according to Boeing officials in Seattle.

The list price for a Boeing 777 ranges from about $250m to $275m,

Emirates will receive its 78th Boeing 777 in August, Al Shams confirmed

"Unless someone comes along and buys more, but with today's economic situation and the crunch I believe we will be holding that position for a while."

"We were affected too [by the global recession] but we are still holding our position and we are providing the same service around the world. We are filling seats," he added.

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